Shares of Amber Enterprises India Pvt. fell the most in nearly a month as a slower-than-expected recovery in demand for discretionary items hurt profit and revenue for the heating and ventilation equipment maker in the first full quarter of operations after India eased the lockdown curbs.
The company’s revenue dropped 35% year-on-year to Rs 407.9 crore in the July-September period, according to an exchange filing, as demand in the room air conditioner fell segment fell. That compares with the Rs 494.5-crore consensus estimate of analysts tracked by Bloomberg.
Net profit tumbled 77% over the year-earlier to Rs 2.8 crore. Analysts, however, had pegged a net loss of Rs 4.72 crore.
Other highlights (year-on-year)
- Operating profit, or earnings before interest, tax, depreciation and amortisation, fell 41% to Rs 21.6 crore
- Ebitda margin contracted 60 basis points to 5.3%
Management…